Avery Dennison Corp (AVY) : Navellier Associates Inc added new position in Avery Dennison Corp during the most recent quarter end. The investment management firm now holds 140,336 shares of Avery Dennison Corp which is valued at $10,839,553 , the company said in a statement filed on Aug 3, 2016 with the SEC.Avery Dennison Corp makes up approximately 1.59% of Navellier Associates Inc’s portfolio.
Other Hedge Funds, Including , Wall Street Access Asset Management reduced its stake in AVY by selling 3,780 shares or 9.2% in the most recent quarter. The Hedge Fund company now holds 37,302 shares of AVY which is valued at $2,881,206. Avery Dennison Corp makes up approx 1.69% of Wall Street Access Asset Management’s portfolio.Pitcairn Co boosted its stake in AVY in the latest quarter, The investment management firm added 4,504 additional shares and now holds a total of 9,789 shares of Avery Dennison Corp which is valued at $768,926. Avery Dennison Corp makes up approx 0.10% of Pitcairn Co’s portfolio. Simplex Trading added AVY to its portfolio by purchasing 4,514 company shares during the most recent quarter which is valued at $331,463. Avery Dennison Corp makes up approx 0.04% of Simplex Trading’s portfolio.
Avery Dennison Corp opened for trading at $78.33 and hit $78.98 on the upside on Monday, eventually ending the session at $78.72, with a gain of 0.33% or 0.26 points. The heightened volatility saw the trading volume jump to 6,98,267 shares. Company has a market cap of $6,995 M.
On the company’s financial health, Avery Dennison Corp reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.01. The company had revenue of $1541.50 million for the quarter, compared to analysts expectations of $1539.48 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
Investors should note that on Aug 2, 2016, Avery Dennison Corp announced a cash dividend of $0.4100. The company’s management has announced Sep 2, 2016 as the ex-dividend date and fixed the record date on Sep 7, 2016. The payable date has been fixed on Sep 21, 2016.
Many Wall Street Analysts have commented on Avery Dennison Corp. Avery Dennison Corp was Downgraded by BofA/Merrill to ” Underperform” on Jul 1, 2016. Avery Dennison Corp was Downgraded by JP Morgan to ” Neutral” on May 20, 2016.
Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a variety of tickets tags labels and other converted products. The Companys pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing printing stamping and die-cutting. It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Company also manufactures and sells a variety of other converted products and items not involving pressure-sensitive components such as fasteners tickets tags radio-frequency identification (RFID) inlays and tags and imprinting equipment and related services which it markets to retailers and apparel manufacturers and brand owners. The Companys operational segments include Pressure-sensitive Materials (PSM) Retail Branding and Information Solutions (RBIS) and Vancive Medical Technologies (Vancive).